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Trying to sell through cash for dinars


diligent1
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Family into dire straights and had to unload 5mil. Been here a long time, watched and Researched posts and threads before proceeding. Thought I had done due diligence...lol

Notes sent in were pristine (humidity controlled environment and never handled), not a wrinkle and perfect corners, consecutive (logged), and with all authentication certificates and order receipts. Even sent enclosed in sealed plastic box, padded, inside of a rated shipping container. Received agreement checklist same day as they received which was impressive. Also return check was sent same day and without my signed acceptance, but only for 650.00 per mil as claimed was not sequential and notes were considered circulated as not in pristine condition.

Check will likely be here this week, and am negotiating with them now for return of my EXACT notes or at least 800 mil. Not a good experience thus far (apparently Kristi has better luck). Worried now, feel stupid and taken advantage of...called the company number listing on the agreement and said the verifying dept will only respond by email. Hoping to at least get MY EXACT Dinar back and in same condition sent, and I offered to pay shipping costs. Will re-post here to let everyone know the outcome, and hope this helps others navigate decisions for their best interest.

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Received response back from Stephen from compliance right away. 2 notes were apparently out of sequence in one of the 6 bundles and we have settled for 800 per mil with a new check being sent out. They did offer to send MY dinar back as well if I paid shipping.

I still believe this is the best route out there other than Doc....lol

The quick response on a weekend provided some comfort and instilled my trust.

Good luck all....I will still be around and engaged !

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I'd recommend checking out either www.DealOrBuyDinar.Com or www.BuyIraqiDInarHere.Com.

 

Have a number of friends and colleagues who have dealt with both on a number of occasions and had excellent experiences. DealOrBuyDinar.Com actually let a coworker of mine who was concerned about sending Dinar to someone they didn't know, they actually let him come by their office and drop off DInar and pickup payment in person. BuyIraqiDinarHere.Com is also a company I knwo a few people who have sold to. No confusing checklists or terms. I believe they prefer the notes to be sequential but my buddies were not and they still paid him the $800 they had agreed upon though they did point out the error to him. Paid him by Paypal so he had money same day they received it. Havn't checked eithers prices in a while but last I heard it was a straightforward $800 for uncirculated and $750 for circulated and would buy from anyone regardless of whom they bought from.

 

I know there's a handful of Travelex stores buying Dinar if you have one in your area but buyin price is going to be more like $630, however if the peace of mind of doing it in person is worth that to you mabe something to checkout.

 

Also obviously if any of you have ebay accounts you can probably get close to $950 which is better than any dealer, bank, or anyone on here will give you.

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"Also obviously if any of you have ebay accounts you can probably get close to $950 which is better than any dealer, bank, or anyone on here will give you."

DAMN! I have an EBay account and didn't think of that one. Geez...

Edited by RicknSaudi
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Just reread your post. What kind of customer service is we only reply via email. That pisses me off about most companies these days, not just Dinar but any business or service. They are responsive when they are trying to get your business and as soon as they have it oh we dont answer phones. Well you sure were eager to talk on the phone when tryng to acquire my business.

I really have no idea but having bought and spoken with dealorbuydinar on numerous occasions I get the feeling they are a fairly small operation maybe 2 to 3 people. Dont get me wrong great company amd seemingly does a lot of business but no numerous departments. I forget the womens name, very friendly and nice, but she is like the finance dept customer service dept compliance etc. I have a hard time eblieving any of these outfits have dozens of employees and multiple departments. I know deaoorbuy isnt the company your talking about but im just saying.

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Cash for Dinar is a safe bet to get results in a hurry, just be sure you read all of their requirements before thinking you are actually going to get their advertised price.  Next time I will allow for the time to sell it on ebay or through Doc31.   :twocents:  

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  • 2 weeks later...

I needed to sell another 2 million dinar and was thinking of using Ebay. I check out closed sales on Ebay of 1 million dinar and they seem to mostly be in the $800’s these days. Also, Ebay takes 10% and then Paypal takes another 2.9% so it doesn’t look like a very lucrative option after all. And if you sell more than $1000 worth of currency on Ebay, they consider you a dealer and want you to be licensed (which I doubt any of us are), so it’s risky. Last but not least, on Ebay, you don’t know who you’re selling to and with a high value item, I’d hate to get into a dispute with the buyer and then have both my dinar and the proceeds tied up for the weeks it would take Ebay to settle the dispute. I decided against selling dinar on Ebay for all of these reasons.

So I contacted CashForDinars since I’d had a great experience with them before and inquired about deligent1’s initial counter offer of $650/million. This is what happened. When I initially sold 2 million to CashforDinars, their price per million of dinar that were uncirculated, sequentially numbered, mint condition with a Certificate of Authenticity from a US dealer, was $825/million. At that time they were paying $750 to $800 per million for circulated dinar. Then they increased their price for uncirculated from $825 to $850, and at the same time, decreased their price for circulated dinar down to $650 (instead of $750 to $800). Apparently circulated dinar are really hard to resell nowadays. And unless your uncirculated dinar are in mint condition, all sequentially numbered, and you have a CofA from a US dealer, they will consider anything thing less to be circulated and they will be priced as such.  So, for example, even if you have unused dinar, sequentially number with a CofA from a US dealer – if you’ve crumpled them up – they will be priced as if they were circulated at $650/million. That’s why deligent1 was initially offered $650/million. However, today I spoke to management at CashforDinars who told me they really want to do right by Dinar Vet members so they offered us the following: if you have mint condition dinar that are sequentially numbered but don’t have a CofA, they will still give you $800/million (and of course if you have the CofA from a US dealer, you'll get the full $850/million). But if you have anything less than that, the max you can get is $650/million.

If you want to know exactly what price you’ll get, call CashforDinars and speak to Stephen. If you honestly tell him what condition your dinars are in, and mention you are from Dinar Vets - he will give you the best price he can. So if you call first, you can find out how much you will really get before you actually send them in.

Also, I found a good conversion table to translate the serial numbers on dinars to English. It’s really not hard to do and if you need to sell you dinar, you can easily verify for yourself whether all your dinar are sequentially numbered or not. Check out item 6 on the following link:
http://www.wikihow.com/Verify-the-Authenticity-of-Iraqi-Dinars

Lastly, for any of you who are forced to sell some of your dinar (like me), good luck and I hope you get the best price possible and that you still are able to keep some dinar.

GOOOOOO RV!

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I did Ok selling 100 K increments on Ebay even with fees.  Your money will never get tied up if it shows as delivered by postal or UPS.  No big deal. I always did 24 hour auctions and offered free shipping. I netted  around $85.00 per 100K   and I made a decent profit on my full bundles 500s,     

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Sterling will buy back if you bought from them and still have your CofA and receipt - at $820/million (which was recently increased btw - used to be $760 or $770 or the like).  But if you do have your CofA  and receipt from them, I think I'd still rather sell to cashfordinars for $850/million --- a buck's a buck!! 

 

And that's a good point about selling smaller amounts on ebay.  I agree that you'll get a better price that way.  Still, if you have to sell a couple of million - like I did, that's a lot of separate listings and a lot of work and could likely take some time to sell all 2 million that way.  I didn't have the time to wait.  Also, my concern about the buyer was - what if he claimed the dinar weren't authentic - or that they were circulated and not uncirculated?  Then you'd have to wait for Ebay to settle the dispute and that takes weeks.  It's not a big deal on a smaller $100 auction, but on a $900 auction, that was a concern for me.

 

Anyway, I fedexed out my dinar to cashfordinars yesterday so I'm good to go.  I just wanted to pass on the information I had to anyone else who might find it useful.

 

With the good news about the HCL maybe being passed soon......  lets hope the RV comes soon and none of us has to sell anymore of our dinar!!!

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Sterling will buy back if you bought from them and still have your CofA and receipt - at $820/million (which was recently increased btw - used to be $760 or $770 or the like).  But if you do have your CofA  and receipt from them, I think I'd still rather sell to cashfordinars for $850/million --- a buck's a buck!! 

 

And that's a good point about selling smaller amounts on ebay.  I agree that you'll get a better price that way.  Still, if you have to sell a couple of million - like I did, that's a lot of separate listings and a lot of work and could likely take some time to sell all 2 million that way.  I didn't have the time to wait.  Also, my concern about the buyer was - what if he claimed the dinar weren't authentic - or that they were circulated and not uncirculated?  Then you'd have to wait for Ebay to settle the dispute and that takes weeks.  It's not a big deal on a smaller $100 auction, but on a $900 auction, that was a concern for me.

 

Anyway, I fedexed out my dinar to cashfordinars yesterday so I'm good to go.  I just wanted to pass on the information I had to anyone else who might find it useful.

 

With the good news about the HCL maybe being passed soon......  lets hope the RV comes soon and none of us has to sell anymore of our dinar!!!

Alot of Dinar is transacted on ebay without many problems, you could say the same thing could happen with any item on ebay the buyer claiming not as described. Though there are some bad apples on ebay who try to game the system and use ebays buyer favortism to their advantage for the most part most people on ebay are decent people. Also if you send with tracking you should be in the clear.

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Yes rulesforrebels, I realize that most transactions on Ebay go through without any hitches.  My concern is that still, there is some risk - maybe not a lot, but there is a chance that you will get an unscrupulous buyer - and I think that's more likely to happen with the sale of 1 million dinar rather than 100 thousand dinar.  And for me, since I'm waiting until the last minute to sell my dinars (I'm always hoping the RV will happen), I didn't like taking risking that my transaction might be delayed and my money may not get to me on time..  However, if I was able to net more than I can get at cashfordinars, I would have gone with Ebay regardless of that risk (because I do agree that the risk is small).  But, as I said, most of Ebay's recent sold listings of 1 million dinar were in the $800's and when you take off the Ebay fee of 10% plus the Paypal fee of 2.9%  - the net price was lower with Ebay.  So that plus minimizing any risk at all coupled with a fast payout, were a consideration for me.  Again you may be able to net about the same about or maybe a bit more if you sell in smaller lots of 100,000 dinar on Ebay, but then you have to ship 20 different items and that cost really adds up, plus I think it will take longer.  I'm not saying anyone has to agree, this is just my studied opinion on the subject.  FYI to anyone who's interested and for what it's worth.

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Yes rulesforrebels, I realize that most transactions on Ebay go through without any hitches.  My concern is that still, there is some risk - maybe not a lot, but there is a chance that you will get an unscrupulous buyer - and I think that's more likely to happen with the sale of 1 million dinar rather than 100 thousand dinar.  And for me, since I'm waiting until the last minute to sell my dinars (I'm always hoping the RV will happen), I didn't like taking risking that my transaction might be delayed and my money may not get to me on time..  However, if I was able to net more than I can get at cashfordinars, I would have gone with Ebay regardless of that risk (because I do agree that the risk is small).  But, as I said, most of Ebay's recent sold listings of 1 million dinar were in the $800's and when you take off the Ebay fee of 10% plus the Paypal fee of 2.9%  - the net price was lower with Ebay.  So that plus minimizing any risk at all coupled with a fast payout, were a consideration for me.  Again you may be able to net about the same about or maybe a bit more if you sell in smaller lots of 100,000 dinar on Ebay, but then you have to ship 20 different items and that cost really adds up, plus I think it will take longer.  I'm not saying anyone has to agree, this is just my studied opinion on the subject.  FYI to anyone who's interested and for what it's worth.

Your package to cashordinars or sterling or whomever could be lost by Fedex. Alot of stuff can happen, you'll drive yourself crazy dwelling on whatifs all the time. I get your point though if there's not a significan't different in price to get rid of it a pretty safe way vs having to deal with 10 diff ebay buyers I'd do the same thing

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I'm not dwelling on "what ifs" and I don't drive myself crazy always worrying about worst case scenarios.  But the truth is that the odds of getting a bad buyer on ebay are significantly higher than the odds of a package being lost by fedex.  That's why Ebay's feedback ratings are so important and why those ratings always show immediately after the Ebay user name.  Ebay's large degree of anonymity makes it a good forum for unscrupulous people to take advantage of unsuspecting sellers.  I know it doesn't happen that often - but it does happen more on ebay versus when you are dealing with a registered institution.  And as I said, if I would have gotten a higher net amount, I would have taken on that risk - but the fact is, I would have received a lower net amount and with additional risk - so I opted not to go that route.  I don't know why you keep trying to bust balls on this.  btw, I have been buying (and selling to a much lesser extent) on ebay for 15 years and it's usually my "go to" place when I'm looking to buy most anything online - so I'm not putting Ebay down at all.  I love Ebay and recommend it to people all the time.  But for those of us who begrudgingly are having to sell some of our dinar even though we'd prefer not to, I think this is an issue worth considering.  Again, just my opinion.

 

And if anyone's interested, I mailed my 2 million dinar (prepaid fedex) to cashfordinars on Monday and got my check priority mail yesterday - with no deductions so I netted the exact amount I was quoted.  it was super fast and easy and I highly recommend them.

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I'm not dwelling on "what ifs" and I don't drive myself crazy always worrying about worst case scenarios.  But the truth is that the odds of getting a bad buyer on ebay are significantly higher than the odds of a package being lost by fedex.  That's why Ebay's feedback ratings are so important and why those ratings always show immediately after the Ebay user name.  Ebay's large degree of anonymity makes it a good forum for unscrupulous people to take advantage of unsuspecting sellers.  I know it doesn't happen that often - but it does happen more on ebay versus when you are dealing with a registered institution.  And as I said, if I would have gotten a higher net amount, I would have taken on that risk - but the fact is, I would have received a lower net amount and with additional risk - so I opted not to go that route.  I don't know why you keep trying to bust balls on this.  btw, I have been buying (and selling to a much lesser extent) on ebay for 15 years and it's usually my "go to" place when I'm looking to buy most anything online - so I'm not putting Ebay down at all.  I love Ebay and recommend it to people all the time.  But for those of us who begrudgingly are having to sell some of our dinar even though we'd prefer not to, I think this is an issue worth considering.  Again, just my opinion.

 

And if anyone's interested, I mailed my 2 million dinar (prepaid fedex) to cashfordinars on Monday and got my check priority mail yesterday - with no deductions so I netted the exact amount I was quoted.  it was super fast and easy and I highly recommend them.

Ebay isn't anonymous, you have to enter your name, address, tax id number, etc. Also try setting up a fake ebay account and see how long it takes for them to shut it down, I doubt you'll be able to sell more than 1 item, they also hold funds so that people can't setup fake accounts sell a high dollar amount item and run.

 

I remember a member or two on here getting played when trying to buy Dinar. I also recently saw on a facebook group some girl who's scammed 4 or 6 people got scammed by some girl.

 

I guess ideally is doing a local meetup cash for cash but geographically speaking not always easy. I would check to see if I had a XOA or dinartrade office near me but I imagine they paying like $600

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